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Canadians are renegotiating mortgages and taking advantage of lower interest rates at record levels, according to CIBC.
Home equity withdrawals and mortgage interest savings put $24 billion into the pockets of homeowners last year, states a new economic report released from the bank, entitled "Loonie Boom: How the Soaring Dollar is Sustaining the Canadian Housing Market."... |
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Housing density in GTA one of the highest in North America: Report
Published : June 09, 2008 | Author : mortgagegenie | Unrated |
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| I asked several associates of mine who are not intimately familiar with the housing market what percentage of all new homes built in the GTA they thought were single-detached dwellings.
The estimates ranged from about half to more than three quarters.
The truth, according to RealNet Canada Inc., is that only 42 per cent of all new homes sold in the GTA last year were single-detached dwellings...
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Home starts rise thanks to condo boom
Published : June 09, 2008 | Author : mortgagegenie | Unrated |
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| Cooler days forecast in sag of single-home starts
But affordability has improved, RBC study finds
Housing starts are up in the Toronto area and affordability has improved, according to figures released yesterday.
But analysts warn the rosy numbers could be hiding some significant cracks in the real estate market...
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Highrise condo sales led the market in 2004
Published : June 09, 2008 | Author : mortgagegenie | Unrated |
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| That's up from 28 per cent the previous year and marks the first time in about a decade that sales of highrise condos have surpassed those of units in the low-rise market, which includes condos, single detached homes and semi-detached homes...
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Hard to beat housing heat
Published : June 09, 2008 | Author : mortgagegenie | Unrated |
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| REAL ESTATE: It goes right across the country, our report finds
Canada's current housing market can be described in just one word: hot.
Homes are practically being sold before the for-sale sign even hits the front lawn -- and that includes the "insatiable demand" for home ownership across Greater Vancouver, where you'll find the country's highest prices...
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GTA home prices edge higher, board reports
Published : June 09, 2008 | Author : mortgagegenie | Unrated |
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| The average home price in the Greater Toronto Area has jumped $1,582 in the last month alone, according to the Toronto Real Estate Board.
The average home price in mid-April was $337,279, up from $335,697 in mid-March, according to TREB, which tracks resale activity in the Greater Toronto Area...
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GST rebates for new homes unfairly skewed
Published : June 09, 2008 | Author : mortgagegenie | Unrated |
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| Rebate thresholds haven't kept up with house prices
GTA homeowners are unduly penalized
I congratulate fellow columnist Bob Aaron for highlighting a very important consumer issue in one of his recent columns.
In his Jan. 1 column, Aaron stated "... the GST new-housing rebate currently ends when a house is priced over $450,000. I would increase that limit to $600,000 or $700,000, in keeping with escalating costs."...
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